Brexit cost many countries their places in the global advance, with many businesses in Ireland suffering losses due to the separation. Crest & Crumb, which manufactures chilled pizzas and flat breads, is the latest company to pitch camp in the south to access the European Union markets. Currently located in Northern Ireland, the pizza maker cannot sell in EU markets as a result of Brexit, implying that the company may experience a slowdown in the growth of its revenues and profits. Like other companies, Crest & Crumb has to evaluate other options that will see its revenue grow even after Brexit.
Crust and Crumb Bakery Limited has been in the market since 2011 and currently operates two plants in Derrylin village in County Fermanagh, Northern Ireland. The giant manufacturer of chilled pizzas plans to set up a factory in Ballyconnell, County Cavan. With an investment of 5 million, which is partly funded by Enterprise Ireland, the project targets the growing market for chilled pizzas in mainland European Union countries. Although the company announced plans to open the factory in December 2018, orders worth 6 million have already trickled in and this is set to increase in the coming months. Mark McCaffrey who works for the company states that: “This investment was necessary for the company’s Brexit strategy… and paramount to our survival after Brexit.”
How Brexit Affects Irish Businesses
Like other countries in Europe, Ireland will see its economy lag as a result of the UK leaving the EU. A research by Copenaghen Economics for the Government asserts that the Irish GDP will reduce by 2.8 percent by 2030, which would not have happened had the UK and the European Union not separated. Businesses have also suffered losses due to damaged imports and exports. The country is already creating policies to mitigate the impact of the divorce.